Education, moral hazard, and endogenous growth

Article Abstract:

The adverse effect of intragenerational redistribution policies on economic development is analyzed. The analysis centers on redistributions that reduce incentives for education and acquisition of skills, and thus have a negative impact on the economic growth rate. To illustrate the moral hazard problem in education, a basic model of a closed economy that produces only one consumption good and its extension to a one-sector model with a standard neoclassical production function and a two-sector economy engaged in international trade is presented.

Economic aspects, Income distribution, Human capital

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The general instability of balanced paths in endogenous growth models: the role of transversality conditions

Article Abstract:

The instability of optimal balanced paths in endogenous growth models is proved as long as transversality conditions are satisfied. The complete instability of models with number of state variables is also proved.

United States, Forecasts, trends, outlooks, Analysis, Forecasts and trends, Economics, Market trend/market analysis, Economic theory

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Why countries with the same technology and preferences can have different growth rates

Article Abstract:

The rate of growth of countries depends on the extent of bargaining power of workers.

Games of strategy (Mathematics)

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